Data Science for Banking & Insurance

Surviving and Thriving in the Era of Internet Giants and Financial Technology Startups

17.01.2017 07:09 am

Over the course of many centuries, the banking and insurance industries have developed processes, products and infrastructures that have shaped the economic history of humankind.

But now, they are threatened with extinction by challengers who appeared on the world stage a mere couple of decades ago, and some who emerged just a scant few years ago, but who nonetheless are already rewriting the rules of financial services. These challengers include Internet-era giants like Google, Amazon, Facebook, Apple, Baidu and Alibaba; nimble startups like Credit Karma, Lending Club, Square, Lemonade, TransferWise and GoFundMe; and even, through the Internet of Things, wholly unlikely competitors like manufacturers of consumer and industrial goods.

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